FM: Conspiracy to end entrepreneurship culture in India, show nation is unsafe for investors
During the general discussion for the FY25 Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman said rumours are being spread that Indian institutions cannot guarantee security to foreign investments.
Addressing the general discussion for the FY25 Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman said there was a "conspiracy is to end India's entrepreneurship culture even before it can develop", adding that "entrepreneurship itself is being made a villain" and "negativity is being spread in society towards all those who do business".
While the Minister did not reveal any names behind this alleged conspiracy, she said "some forces" were working to create a global image that India "is not safe for investors."
"Rumours are being spread that Indian institutions cannot guarantee security to foreign investments. There is a huge political nexus behind this, which is carrying out this conspiracy from the streets to the Parliament," said Sitharaman.
According to the Minister, "every countryman has to come together to fight this conspiracy", adding that "this is very important for the country’s unity and for the journey towards Viksit Bharat".
Sitharaman's comments on the alleged conspiracy come days after largely favourable announcements for startups in the FY25 Budget, including the abolition of angel tax, a Rs 1,000-crore fund for the spacetech sector, reduction of Tax Deducted at Source (TDS) for ecommerce platforms from 1% to 0.1%, and more.